Jul-16-2016 10:11 AM
Jul-22-2016 08:25 PM
Jul-21-2016 09:13 AM
SoCalDesertRider wrote:
In a total loss claim on the vehicle, the insurance company will add in the value of aftermarket modifications and additions to the vehicle when they determine the overall value of the vehicle. Both times I've made total loss claims on vehicles (one burned down in a fire, the other was in an accident), the insurance company valued the vehicles much higher than I could ever have sold them for the day before they were totaled.
Jul-18-2016 04:41 PM
Jul-17-2016 10:45 AM
Jul-17-2016 08:34 AM
jrp wrote:
it depends on the insurance company, they each have slightly different guidelines from their Underwriters. But many will offer an "agreed cash value" policy instead of the default "actual cash value (book value)". The catch is, they don't have to agree with your version of the "agreed value". sometimes that takes an independent appraisal or documentation & receipts for the modifications. sometimes it requires a compromise, you meet them in the middle at a value you can live with, even if its less than what you think the real value is.
It helps to go through an independent agent with experience insuring modified vehicles.
Jul-16-2016 06:55 PM
Jul-16-2016 10:23 AM